Many yield farmers lost more than they bargained for when they trusted this DeFi dev
Cointelegraph
Published Oct 05, 2020 02:12PM ET
Updated Oct 05, 2020 04:20PM ET
Yield farmers looking for a quick profit were recently taken in by a dubious DeFi protocol called UniCats — a yield farming scheme reminiscent of other, more famous protocols like SushiSwap or Yam Finance.
According to ZenGo researcher Alex Manuskin, at least one of its users lost more than $140,000 worth of Uniswap's UNI tokens even after they removed their funds from the protocol. Other users lost about $50,000 more, Manuskin told Cointelegraph.
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Written By: Cointelegraph
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